Question: On September 3 0 , 2 0 2 4 , Truckee Garbage leased equipment from a supplier and agreed to pay $ 1 4 3

On September 30,2024, Truckee Garbage leased equipment from a supplier and agreed to pay $143,000 annually for 15 years beginning September 30,2025. Generally accepted accounting principles require that a liability be recorded for this lease agreement for the present value of scheduled payments. Accordingly, at inception of the lease, Truckee recorded a $1,224,006 lease liability.
Required:
Determine the interest rate implicit in the lease agreement.
Note: Use tables, Excel, or a financial calculator. Round your answer to 1 decimal place. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Interest rate implicit
%
On September 30,2024, Truckee Garbage leased equipment from a supplier and

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